WASHINGTON — Federal Reserve Chair Jerome Powell on Wednesday set the stage for the central bank’s first rate cut in four years, citing greater progress toward lower inflation as well as a cooler job market that no longer threatens to overheat the economy. Still, the Fed kept its key interest rate unchanged at a 23-year high of 5.3%, despite calls from some economists and Democratic politicians to implement a cut Wednesday.
Similar Stories to Fed Chair Powell Says September Interest Rate Cut Is ‘on The Table’ As Inflation Cools on Bing News
Christopher Rugaber, Chicago Tribune: Business
Wed, 07/31/2024 - 2:38pm
Topics: washington federal reserve chair jerome powell democratic we re rate president kamala harris president donald trump november in a congress they re mark zandi moody s analytics stocks treasury federal reserve held s&p it s earlier wage bharat ramamurti american economic liberties project biden white house elizabeth warren massachusetts february european central bank england the bank i fed powell powell powell sept we the the fed s the fed the we july bank japan table wednesday economy costs reduce unemployment long key level year years fall markets market meets jobs unchanged months job preferred letter major government benchmark measure statement latest employment added
BING NEWS:
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